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May 16, 2013
Do you know where your money is? If some of it is offshore, you might have tax reporting responsibilities – and those responsibilities generally go further than checking the familiar box on the Schedule B you submit with your federal income tax return. Here are two. 1. FBAR. Foreign bank account reporting has been required [...]
May 9, 2013
Tax rules are daunting at the best of times – and they’re more so at the worst of times, such as during a divorce, when you may feel too stressed to face decisions involving your taxes and personal assets. Yet the choices you make will affect your future, both financially and personally. These 3 rules [...]
April 2, 2013
By: Sandy Botkin, CPA, ESQ. There is only two ways to save on taxes…1.) don’t make any money or 2.) start your own business For those of us who want to make money number one isn’t an option. Option two can be a scary step if you feel more secure working for somebody else. [...]
March 8, 2013
How important is it to pick the right accountant? In a recent test by Money Magazine 45 tax preparers were given the exact same information and in the end came up with 45 different results. The IRS returned about $18 billion to small businesses over a two-and-a-half year period due to mistaken assessments, according to [...]
January 22, 2013
The American Taxpayer Relief Act of 2012 approved by Congress just after we plunged over the “fiscal cliff” restores and modifies several expired tax breaks, but doesn’t address other issues. Here are the highlights of the new law’s provisions for individual taxpayers. * Individual income taxes. Only the wealthiest taxpayers face an income tax increase [...]